U.S., China: Trump and Xi Agree to Pick Up Where Stalled Trade Talks Left Off
MIN READJun 29, 2019 | 15:15 GMT
U.S. President Donald Trump and Chinese President Xi Jinping meet during the G-20 summit in Osaka, Japan, on June 29. The two leaders agreed to restart trade negotiations.
(BRENDAN SMIALOWSKI/AFP/Getty Images)
It feels like deja vu all over again as the 2019 G-20 summit ends the same way as the 2018 G-20 summit: With China and the United States agreeing to a truce in their trade war and vowing to restart trade negotiations. As a part of Washington and Beijing's truce, the United States has agreed to indefinitely delay placing more tariffs on Chinese imports -- including the current threat to put tariffs on about $300 billion worth of goods -- as long as the trade negotiations make progress.
In addition to the tariff cease-fire, the United States has reportedly agreed to lift some of its export controls on Chinese technology giant Huawei Technologies. In exchange, China has promised to buy more American agricultural products. What's not clear is when such activity will take effect. During his news conference wrapping up the G-20, U.S. President Donald Trump said the United States would...